Online Investment Firm Betterment Hits Its Own Goal of Raising $10 Million

New York-based Betterment, which provides online investment tools, has secured $10 million in a second round of funding. The round was led by Menlo Ventures with existing investors Bessemer Venture Partners and Anthemis Group also participating. Along with offering investment services like IRAs, the company recently added an online gift registry that enables users to contribute to gifts for friends and families.


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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work